Trade credit insurers paid equivalent of £4m a week in claims last year

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Figures from the Association of British Insurers’ annual trade credit insurance statistics revealed that total claims paid to businesses due to non-payment in 2016 was £210m, up by over 40% since 2015. Trevor Williams, chair of the ABI trade credit committee, said: “Trade credit insurance is an essential tool in enabling businesses to trade safely, both domestically and overseas. “Businesses, in particular SMEs, are unable to bear the brunt of non-payment which can have a detrimental impact